PRIME Trade Enterprises , a shareholding vehicle of the Thakral family, has secured shareholder approval for its partial offer for Thakral Corp's shares, it said in a Singapore Exchange filing on Monday night.
About 47.5 million votes representing the same amount of shares were cast, with about 75 per cent, or 35.6 million voting in favour of the offer. PTE had made a bid for 26.5 million shares at S$0.50 apiece in Thakral Corporation, a diversified manufacturing, logistics and property development firm. Thakral shares were up 1.1 per cent, or S$0.005, to S$0.46 as at 11.35am on Tuesday.
PTE already owns about 39.2 million shares, or about 30 per cent of issued shares. The offer will bump its stake in Thakral up to about 50.2 per cent.Submission of votes and acceptances from shareholders closed on April 22, 2019, with PTE receiving valid acceptances of 17.3 million relevant percentage offer shares and 35.8 million excess shares for a total of about 53 million shares, which represents about 40.5 per cent of total issued shares.
After settlement of the offer shares, SGX will establish a temporary trading counter for one month for the trading of board oddlot shares. The counter will open on April 30 and close on May 30.
Source: News Formal (newsformal.com)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stocks to watch: Keppel Corp, Keppel-KBS US Reit, SPH, MLT, Cache, AA ReitTHE following companies saw new developments that may affect trading of their shares on Wednesday: Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Stocks to watch: Keppel Reit, Keppel Corp, Soilbuild Reit, Cache Logistics Trust, PECTHE following companies saw new developments that may affect trading of their shares on Thursday: Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Keppel Corp posts lower Q1 net profit, eyes 15% mid- to long-term ROEDESPITE posting a 40 per cent lower net profit of S$202.9 million for the first quarter of financial year 2019 - as a result of smaller gains from en bloc sales of residential projects - Keppel Corporation is targeting a mid- to long-term return on equity (ROE) of 15 per cent for the group. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Keppel Corp posts lower net profit of S$202.9 millionKEPPEL Corporation is targeting a mid-to long-term return on equity (ROE) of 15 per cent, even as it reported a 40 per cent drop in first quarter net profit to S$202.9 million. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Bank of America profit tops estimates on growing loan bookBank of America Corp reported a 6 percent rise in quarterly profit on Tuesday, as a growing loan book and cost cuts made up for a drop in revenue ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Bank of America quarterly revenue slips but earnings top expectationsBank of America Corp reported a 6 percent rise in quarterly profit on Tuesday, as a growing loan book and cost cuts made up for a drop in revenue ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Bank of America profit rises 6 percent on growing loan bookBank of America Corp reported a 6 percent rise in quarterly profit on Tuesday, as a growing loan book and cost cuts made up for a drop in revenue ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Caesars names Anthony Rodio as CEOU.S. casino operator Caesars Entertainment Corp, which has been under pressure from activist investor Carl Icahn to sell itself, said on Tuesday ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Sears sues Lampert, claiming he looted assets and drove it into bankruptcySears Holdings Corp sued longtime Chairman Eddie Lampert, his hedge fund ESL Investments, and former directors including Treasury Secretary Steven ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Sears sues Lampert, claiming he looted company and drove it into bankruptcySears Holdings Corp sued longtime Chairman Eddie Lampert, his hedge fund ESL Investments, and former directors including Treasury Secretary Steven ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
McDonald's pulls Signature Crafted burgers, doubles down on Quarter PoundersREUTERS: McDonald's Corp said it would remove costlier, premium burgers from its menus in favor of its more popular Quarter Pounders, shifting its ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »